Oil and gas industry announcements: 12 January 2015

Emerson

Emerson has announced the following senior management appointments and changes, effective after Emerson’s February 3 2015 board of directors meeting:

Edgar M. Purvis has been appointed the COO for Emerson.

Edward L. Monsor will remain president of Emerson and continue to manage the company’s international business development and growth strategies and global shared service organisations.

Robert T. Sharp has been appointed Executive VP and Business Leader for Emerson Climate Technologies.

Frank L. Steeves, Executive VP, Secretary and General Counsel for Emerson, will also become a member of the company’s Office of Chief Executive.

Institution of Mechanical Engineers

Stephen Tetlow, MBE, Chief Executive of the Institution of Mechanical Engineers said the following in response to EngineergUK’s report on the state of engineering:

“This report shows the UK is facing a cliff edge. It provides sobering statistics on the drastic shortage of engineers the UK faces. Every politician and policy maker must understand the messages it is sending. It shows that unless we double the number of places for graduates and apprentices in our universities, colleges and training centres, not only will our vital industries and infrastructure fail, we will surrender any chance of future growth. We are about to surrender GDP. It’s as simple as that.”

“What this report makes clear is that we need a wholesale change in the way we value science and technology in schools and society. We can no longer rely on appealing just to the small proportion of people who are passionate about science, technology, engineering and maths subjects. We need science and engineering to be brought to life in the school curriculum and resources prioritised so that we can start to plug the appalling gaps we face. We need to understand the fundamental role engineers make to just about every walk of life and to our health and well being. Resources need to be prioritised accordingly. And it’s not just government that needs to take action. Employers of engineers need to welcome teachers, students and parents through their doors to show just what an exciting career can be had as an engineer.”

NuStar Energy

NuStar Energy LP has said that it has acquired full ownership of a refined products terminal in Linden, NJ, which is located in the New York Harbor. The terminal was previously operated as a joint venture with Linden Holding Corp., and NuStar had 50% ownership of the facility. NuStar purchased the remaining ownership interest from Linden Holding Corp, a subsidiary of NIC Holding Corp, for US$142.5 million, and the acquisition is projected to contribute approximately US$20 million of incremental earnings before interest, taxes, depreciation and amortisation in 2015.

The terminal has 4.3 million bbls of refined products storage capacity, primarily storing gasoline, jet fuel and fuel oils. It has a deep water ship dock and one barge dock that are used for inbound and outbound shipments. The terminal also has inbound pipeline connections to the Colonial and Sun pipelines, and an outbound connection to the Buckeye Pipeline. The NuTop terminal has 389 000 bbls of refined product storage capacity and receives shipments via truck and pipeline, and delivers product via its eight bay truck loading rack.

Tank Storage Germany

The inaugural Tank Storage Germany was a major success. The paid for conference and exhibition, which took place at Schuppen 52 in Hamburg in November 2014 attracted close to 1000 senior decision makers, 86 exhibitors, and a world class speaker line up. Companies such as Vopak, Simon Storage, TanQuid, Emerson and Oiltanking all took part and The Port of Hamburg provided official support. With 58% of visitors coming from within Germany, the figures suggest that the event has indeed tapped into a real need for an event dedicated to the German market.

Germany plays an important distribution role, connecting production and end users within Europe. Furthermore, Germany has the third largest storage capacity in Europe, making it a vital logistics hub. Not surprisingly Tank Storage Germany also attracted an international audience with key industry professionals from 38 countries attending the show.